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SRPP assisted UNIQUE with sale of land & its shares in UR with total value of approx THB 2.1 billion

SRPP News l 27 January 2023

SRPP advised Unique Engineering and Construction PCL (UNIQ) on the disposition of land to Suphannimit Co., Ltd. (SUP) and 100% shares in Unique Real Co., Ltd. (UR), the subsidiary of UNIQ, to Ms. Korapat Suviwattanachai, who is the former director of UNIQUE.

The land transaction involved the disposition of a plot of land in Pak Kret, Nonthaburi, which has a total area of 14 rai and 65 square wa. With the selling price of THB 431 million, the land was sold to SUP, in which Ms. Korapat Suviwattanachai is a major shareholder. In addition, UNIQUE has entered into an agreement to sell investments in all shares of UR, which are held by the company, to Ms. Korapat Suviwattanachai. The total number of shares being sold is 9,249,988 shares at 174 baht per share, valuing the transaction at THB 1,609 million.

To facilitate both transactions, our team provided legal advice on the structure, regulatory timeline, and relevant key issues in connection with the transactions. We also assisted in identifying legal issues and mitigating legal risks. Part of our main tasks included preparing and reviewing the relevant significant documents, e.g., the land sale and purchase agreement, the share purchase agreement, and related notices and letters, which contributed to the completion of the transaction.

UNIQ is one of the leading companies in the construction industry based in Thailand. It operates the business of contractor for engineering and construction with fully comprehensive design services and real estate development. The company’s projects cover the construction of mass transit systems, roads, and highways, as well as Suvarnabhumi Airport and the Hydrant Network Project (Phase II).

Panuwat Chalongkuamdee (Founding Partner), Pasinee Jiravitawat (Associate) and Patchara Hotriem (Associate) led the transaction.

You may view Panuwat’s profile here.

You may view Pasinee’s profile here.

You may view Patchara’s profile here.

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